Herold Advisors Inc. Has $4.59 Million Position in Brookfield Infrastructure Partners L.P. (NYSE:BIP)

Herold Advisors Inc. increased its position in Brookfield Infrastructure Partners L.P. (NYSE:BIPGet Rating) (TSE:BIP.UN) by 50.0% in the second quarter, HoldingsChannel reports. The firm owned 120,155 shares of the utilities provider’s stock after acquiring an additional 40,078 shares during the period. Brookfield Infrastructure Partners accounts for about 2.0% of Herold Advisors Inc.’s investment portfolio, making the stock its 6th biggest holding. Herold Advisors Inc.’s holdings in Brookfield Infrastructure Partners were worth $4,592,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BIP. Prospera Financial Services Inc purchased a new stake in Brookfield Infrastructure Partners in the 1st quarter worth approximately $25,000. IFS Advisors LLC purchased a new stake in Brookfield Infrastructure Partners in the 4th quarter worth approximately $27,000. Nauset Wealth Management. LLC purchased a new stake in Brookfield Infrastructure Partners in the 1st quarter worth approximately $28,000. DB Wealth Management Group LLC purchased a new stake in Brookfield Infrastructure Partners in the 1st quarter worth approximately $28,000. Finally, Sound Income Strategies LLC lifted its position in Brookfield Infrastructure Partners by 50.0% in the 2nd quarter. Sound Income Strategies LLC now owns 858 shares of the utilities provider’s stock worth $33,000 after buying an additional 286 shares in the last quarter. Institutional investors and hedge funds own 55.37% of the company’s stock.

Brookfield Infrastructure Partners Trading Down 3.1 %

BIP traded down $1.27 during trading on Friday, hitting $39.61. The stock had a trading volume of 755,194 shares, compared to its average volume of 365,305. The firm has a market cap of $18.14 billion, a PE ratio of 58.00 and a beta of 0.74. Brookfield Infrastructure Partners L.P. has a 12 month low of $36.00 and a 12 month high of $46.01. The company has a 50 day simple moving average of $40.90 and a 200-day simple moving average of $40.89.

Brookfield Infrastructure Partners (NYSE:BIPGet Rating) (TSE:BIP.UN) last posted its quarterly earnings results on Wednesday, August 3rd. The utilities provider reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.53). The company had revenue of $3.68 billion during the quarter, compared to analyst estimates of $2.12 billion. Brookfield Infrastructure Partners had a return on equity of 2.75% and a net margin of 5.20%. The business’s revenue for the quarter was up 38.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.57 earnings per share. As a group, sell-side analysts anticipate that Brookfield Infrastructure Partners L.P. will post 2.69 earnings per share for the current fiscal year.

Brookfield Infrastructure Partners Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 29th. Shareholders of record on Wednesday, August 31st will be given a $0.36 dividend. The ex-dividend date of this dividend is Tuesday, August 30th. This represents a $1.44 annualized dividend and a yield of 3.64%. Brookfield Infrastructure Partners’s dividend payout ratio is 208.70%.

Analysts Set New Price Targets

BIP has been the subject of a number of research analyst reports. Wells Fargo & Company increased their target price on shares of Brookfield Infrastructure Partners from $46.00 to $47.00 and gave the stock an “overweight” rating in a research report on Thursday, August 4th. StockNews.com downgraded shares of Brookfield Infrastructure Partners from a “hold” rating to a “sell” rating in a research report on Tuesday, July 12th. Credit Suisse Group upgraded shares of Brookfield Infrastructure Partners from a “neutral” rating to an “outperform” rating and set a $49.50 price target on the stock in a report on Thursday, June 30th. Finally, TD Securities initiated coverage on shares of Brookfield Infrastructure Partners in a report on Friday. They set a “buy” rating on the stock. One research analyst has rated the stock with a sell rating and seven have issued a buy rating to the company. According to MarketBeat.com, Brookfield Infrastructure Partners presently has a consensus rating of “Moderate Buy” and a consensus price target of $46.80.

Brookfield Infrastructure Partners Profile

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Brookfield Infrastructure Partners L.P. owns and operates utilities, transport, midstream, and data businesses in North and South America, Europe, and the Asia Pacific. The company's Utilities segment operates approximately 61,000 kilometers (km) of operational electricity transmission and distribution lines; 5,300 km of electricity transmission lines; 4,200 km of natural gas pipelines; 7.3 million electricity and natural gas connections; and 360,000 long-term contracted sub-metering services.

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Institutional Ownership by Quarter for Brookfield Infrastructure Partners (NYSE:BIP)

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